The Los Angeles-area company beat Wall Street's expectations for both revenue and losses, and its share price surged by more than 13% on the news in after-hours trading to almost $15, before briefly stabilizing around $14 - an overall gain of about 6%.

Snap said ending leases in Venice, California, to consolidate offices a few miles north in Santa Monica cost it $3.9 million in the second quarter and would result in total expenses of $25 million to $45 million in 2018, mostly in the current quarter.

The earnings report didn't have any specific sales figures for its latest Spectacles hardware, though it did report $2 million in non-advertising revenue.

Snapchat has been trying to please its users ever since its first redesign in November in an attempt to simplify and streamline the user experience. Keep in mind the Snap-owned app has had trouble with growth since earlier this year, when it launched a now-controversial redesign that was met with a wave of complaints by users.

The Venice, California-based company said it had a loss of 27 cents per share. Analysts had expected Snap's user count to stay roughly the same in the second quarter after it rose by about 2% in the first quarter.

However, there was positive news elsewhere in the results as parent company Snap Inc reported revenue of 262.2 million dollars (£202.6m), up 44% on this time a year ago and above analyst expectations.

Everton agree Yerry Mina deal with Barcelona?
The final opinion [on if he stays or goes] is with the coach [Valverde]". "That's something I've really felt at this club". Alderweireld could wait a year to become available but Graves reckons he will be heading to Old Trafford in this window.

Snap, which has never had a profitable quarter, went public in March 2017 with a $17 (roughly Rs. 1,200) share price.

"It's always going to be a niche platform, so the modest change isn't very remarkable", said Pivotal Research's Brian Wieser.

The prince built up his stake gradually, completing it in May when Snap's stock was near its low ebb.

Analysts had expected net losses of $0.17 per share in revenue of $251.19 million.

Ahead of the release of the results on Tuesday, the self-described camera company warned year-over-year growth had slowed down "significantly" from the first quarter's 54%.

Snapchat's revenue climbed 44% year over year even as it lost users in the last quarter because of a rocky app redesign and increased competition from rivals.

Mendocino Complex Fire Becomes Largest Blaze in California HistoryAug 07, 2018 - 23:25
Exhausted firefighters across the state are trying to contain 16 major fires that are burning in hot, dry and windy conditions. The Cedar fire in 2003, now the third-largest, devoured 273,246 acres in San Diego County, according to Cal Fire records.

Facebook Is Now Asking Banks For Data on Your Spending HabitsAug 07, 2018 - 23:10
Nevertheless, the Journal reported, privacy concerns led one large US bank, which the paper did not name, to end the negotiations. Facebook has been under fire for several scandals involving data privacy , starting with Cambridge Analytica .

After Edgbaston Win, England are in the Driver's Seat: Ben StokesAug 06, 2018 - 16:41
India under Kohli gives the impression that they have resources to be gallant travellers, but they seldom look convincing. Yet again a regulation edge to a delivery going away. "So we'll go to bed dreaming about getting Kohli out first thing".

Accountant Manafort admitted that he forged documentsAug 06, 2018 - 16:17
And if Manafort was actively trying to circumvent lending laws, he wouldn't send emails to his accountant and bookkeeper about it. Manafort signed an agreement to account for that loan that was backdated, according to Laporta and an exhibit shown to the jury.

Jose Mourinho pleased to see end to hard Manchester United pre-seasonAug 06, 2018 - 16:02
We do still have a few days for Martial to leave Old Trafford before the transfer window slams shut on Thursday night, though.... According to reports, Manchester United have reportedly been offered the chance to sign Bayern Munich defender Jerome Boateng .

Charlotte Rae, star of 'Facts of Life,' dies at 92Aug 06, 2018 - 12:05
Garrett on Diff'rent Strokes, paid tribute to all of his late costars: "RIP IN PEACE ALL OF MY CAST MATES. A 1958 publicity photo heralds Charlotte Rae's appearance in a variety show at Chicago's Empire Room.